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Looks like a good setup, I like Asus motherboards, always solid performers. I'm also a big WD fan. If you want to bump your load times you might want to think about trading your TB drive for a couple of 500s in RAID, also go with WD caviar black, they chew a little more juice but you can handle it unless you're prepping for crossfire down the road.

I put together a system not too long ago. I did take around 3 months to get all the parts together. Was patient and looked for deals. A few good deal sites like fatwallet.com and slickdeals.net Was able to able to find deals on most of the things I needed that way. Bought many of the parts from newegg with their various sales. Only bought locally from microcenter, just the motherboard/cpu combo. This site http://pcpartpicker.com/ is nice too, let's you pick the parts you want and it lists stores that carry the part and price.

If it's going to be a gaming computer may want to consider a ssd to install games on for speed.

Don't know what your budget is but instead of a Dvd drive I would look into a Blu-ray burner drive and don't forgot about the cost of software, you'll need the higher versions of windows if you want to play older games.

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You're getting old when you get the same sensation from a rocking chair that you once got from a roller coaster.

1. Get an SSD. Even a small one for just windows plus 1 or 2 games will already improve startup times tremendously
2. Raid set only improves speed if you stripe across two disks. However, lose 1 disk, lose everything.
3. 16gb ram necessitates a 64bit windows
4. Get your protection sorted out. Even this lovely selection of hardware can be brought to it's knees by virusses and malware.
5. consider if you really need that soundcard. onboard sound is pretty good nowadays and you can always add later
6. for gaming a stable network connection is important. If you can use a cable, if you do wireless go for a channel that nobody else uses in the area.
7. do consider backup. Even with a gaming rig there will still be docs and pictures on it. Buy an external disk or spring for an online service.

I built a rig for photo editing and games a year ago and I did a ton of research, so here are my three cents.

I would drop the liquid cooler for a decent air cooler. The cooler master 212 plus or Evo is very inexpensive. You can add a second Push/pull fan for a bit of added cooling if you are going to overclock a lot. My research led me to realize that all in one liquid cooling does not do much better than air cooling.

If you go air watch the heat sink height on your ram as it may. Interfere with some fans.

That should save you enough money to get an ssd on sale for the os and main programs. It makes the computer seem snappier in my opinion!